Lebanese bank hit by US sanctions over Hezbollah ties says deposits are insured

BEIRUT — A Lebanese bank targeted by the US Department of the Treasury for “knowingly facilitating banking activities” for the Hezbollah terror group says it will remain open and guarantees all deposits are insured at the time they are due.

Last week, the Treasury’s Office of Foreign Assets Control sanctioned Jammal Trust Bank, adding it to its list of global terrorist organizations.

The bank’s statement today also confirms its commitment to abiding strictly by the rules and regulations of the Central Bank of Lebanon and denies all allegations against it.

The bank says it’s continuously coordinating with Lebanon’s central bank “to overcome the current crisis and will do everything possible to clear its good name.”

The US has been imposing sanctions on officials from Hezbollah, which Washington considers a terrorist organization.

— Agencies